XRP and Solana Dominate Altcoin ETP Inflows While Ethereum Declines
XRP and Solana led altcoin-based exchange-traded product (ETP) inflows during the week ending March 21, according to digital asset investment firm CoinShares. XRP attracted $6.71 million, closely followed by Solana with $6.44 million.
Ethereum Experiences Significant Outflows
Despite positive inflows for XRP and Solana, Ethereum (ETH) saw substantial outflows totaling $86 million, marking its fourth consecutive week of net outflows. Other altcoins also experienced notable outflows:
- Sui (SUI): $1.3 million
- Polkadot (DOT): $1.3 million
- Tron (TRX): $950,000
Smaller inflows were recorded for Polygon (MATIC) at $400,000 and Chainlink (LINK) at $200,000.
Bitcoin Drives Overall Digital Asset Recovery
Despite Ethereum’s negative performance, digital assets collectively reversed a five-week streak of net outflows, registering total inflows of $644 million. Bitcoin (BTC) led this recovery with inflows of $724 million, its largest weekly inflow since January.
Regional Sentiment Shifts in Digital Asset ETPs
The majority of inflows originated from the United States, totaling $632 million, primarily driven by BlackRock’s iShares Bitcoin Trust (IBIT). Positive sentiment also extended internationally:
- Switzerland: $15.9 million
- Germany: $13.9 million
- Hong Kong: $1.2 million
Conversely, Canada and Sweden led regions experiencing net outflows.
Positive Developments Boost XRP and Solana
Recent developments have significantly boosted investor sentiment toward XRP and Solana:
- Solana is set to launch its first futures-based ETF in the U.S., potentially paving the way for a future spot ETF.
- XRP benefited from the recent dismissal of the SEC’s long-running lawsuit against Ripple Labs.
These developments position XRP and Solana favorably among altcoins, despite broader market challenges.
Quick Summary
- XRP and Solana lead altcoin ETP inflows.
- Ethereum sees significant outflows, negatively impacting overall altcoin sentiment.
- Bitcoin inflows drive overall digital asset recovery.
- Positive regulatory developments boost XRP and Solana.
